PROSPECTUS Pricing Supplement No. 3421
Dated April 28, 1999 Dated August 5, 1999
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration Statement
Dated May 3, 1999 No.'s 333-59707 and 333-76479
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Fixed Rate Notes)
Trade Date: August 5, 1999
Settlement Date (Original Issue Date): August 24, 1999
Maturity Date: August 24, 2009 (subject to earlier redemption,
as set forth under "Additional Terms-Optional Redemption")
Principal Amount (in Specified Currency): US$25,000,000
Price to Public (Issue Price):100.00%
Agent's Discount or Commission: 1.250%
Net Proceeds to Issuer: US$24,687,500 Interest Rate
Per Annum: 7.25%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: Monthly, on the 24th of each month, commencing
September 24, 1999. (each period from and including
an Interest Payment Date or the Original Issue Date,
as the case may be, to but excluding the next succeeding
Interest Payment Date is referred to herein as an
"Interest Period").
Form of Notes:
X DTC registered ____ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: August 24, 2000 (See "Additional Terms-Optional
Redemption" below)
Initial Redemption Percentage: 100%
Optional Repayment Date: Not applicable ("N/A")
Annual Redemption Percentage Reduction: N/A
Modified Payment Upon Acceleration: N/A
CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED IN
THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO THEM IN THE
PROSPECTUS SUPPLEMENT.
<PAGE> (Fixed Rate Notes)
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Pricing Supplement No. 3421
Dated August 5, 1999
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
Original Issue Discount:
Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual Date: N/A
Initial Accrual Period OID: N/A
Amortizing Notes:
Amortization Schedule: N/A
Dual Currency Notes:
Face Amount Currency: N/A
Optional Payment Currency: N/A
Designated Exchange Rate: N/A
Option Value Calculation Agent: N/A Option
Election Date(s): N/A
Indexed Notes:
Currency Base Rate: N/A
Determination Agent: N/A
Additional Terms:
Interest.
Accrued interest on the Notes for each Interest Period shall be calculated
and paid based on the number of days in such Period divided by 360
(the number of days in such Interest Period to be calculated on the basis
of a year of 360 days consisting of twelve 30-day months). As a result,
the amount payable on each Interest Payment Date will remain constant
irrespective of the actual number of days that have elapsed since the
preceding Interest Payment Date.
Optional Redemption.
The Company may at its option elect to redeem the Notes in whole or in
part on August 24, 2000 or on any Interest Payment Date thereafter (each
such date, an "Optional Redemption Date") at 100% of their principal
amount plus accrued interest to but excluding the date of redemption
(the "Redemption Date"). In the event the Company elects to redeem the
Notes, notice will be given to registered holders at least 30 days prior
to the Redemption Date.
<PAGE> (Fixed Rate Notes)
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Pricing Supplement No. 3421
Dated August 5, 1999
Rule 424(b)(3)-Registration Statement
No.'s 333-59707 and 333-76479
Additional Information:
General
At March 27, 1999, the Company had outstanding indebtedness totalling
$167.367 billion, consisting of notes payable within one year, senior notes
payable after one year and subordinated notes payable after one year.
The total amount of outstanding indebtedness at March 27, 1999 excluding
subordinated notes payable after one year was equal to $166.670 billion.
Consolidated Ratio of Earning to Fixed Charges.
The information contained in the Prospectus under the caption
"Consolidated Ratio of Earnings to Fixed Charges" is hereby amended
in its entirety, as follows:
Year Ended December 31, Three Months Ended
1994 1995 1996 1997 1998 March 27,1999
1.63 1.51 1.53 1.48 1.50 1.53
For purposes of computing the consolidated ratio of earnings to fixed charges,
earnings consist of net earnings adjusted for the provision for income taxes,
minority interest and fixed charges. Fixed charges consist of interest and
discount on all indebtedness and one-third of rentals, which the Company
believes is a reasonable approximation of the interest factor of such rentals.
Plan of Distribution:
The Notes are being purchased by Salomon Smith Barney Inc.
(the "Underwriter"), as principal, at the Issue Price of 100.00%
of the aggregate principal amount less an underwriting discount
equal to 1.250% of the principal amount of the Notes.
The Company has agreed to indemnify the Underwriter against certain
liabilities, including liabilities under the Securities Act of 1933,
as amended.
